Conduit Share Discussion Threads

[rivaldo] 07/1/2013 13:42

Very encouraging online now - you can sell 15k at 80.5p, but only buy 3k maximum at 81.8p.

[rivaldo] 07/1/2013 11:02

Cheers Daz - and I see we have some director buying today too. Interesting that a non-exec should buy his maiden stake in the company at 82p quite close to the year end and with the Havas stake in the background:

[daz] 07/1/2013 09:21

Thanks for the research Riv

[rivaldo] 02/1/2013 09:37

Excellent news for CRE's Nelson Bostock here, especially given the massive ad campaigns being currently undertaken by EE:



"Mobile operator EE revamps agency roster
Alec Mattinson, prweek.com,
Friday, 21 December 2012, 3:33pm,

EE has reviewed its UK agency support, extending the work of Nelson Bostock and ending its relationship with GolinHarris.

The mobile operator, which encompasses the Orange and T-Mobile brands, has consolidated its press office agency support under Nelson Bostock.

The agency, which EE first hired in October 2011, will manage Orange and EE press office and campaigns, as well as the existing T-Mobile PR activity.

In addition M&C PR has been appointed to oversee the B2B PR program for EE's brands through 2013.

It is thought that both appointments come on the back of the agencies' work on the launch of 4G and the rebrand from Everything Everywhere to EE earlier this year.

M&C PR's brief is in addition to that held by M&C Saatchi Sports & Entertainment, which handles consumer entertainment campaigns.

PRWeek broke the story in October that EE had brought in FTI Consulting's strategic comms arm to support its corporate PR. That work remains unaffected by the latest reshuffle.

The changes bring an end to EE's relationship with GolinHarris, which has worked on the Orange brand for six years."

[gorse] 19/12/2012 13:43

The Euro having strengthened much in the last few weeks, I presume makes Havas richer.

[old tyke] 18/12/2012 07:49

the worse the econoomic outlook in France, the greater the chance of Havas getting their (euro) cheque book out. And Hollande doesn't seem to be making much of an impression on sorting out the mess that is the French economy.

[fargonorthdakota] 12/12/2012 16:21

I agree, a potential target for a take over, it's a shame that Havas have gone quiet on that front.

[c1d] 04/12/2012 16:42

markt,
I entirely agree!
However even with the negative trend I've taken the view that CRE's valuation is low enough for any downside risk to hopefully be limited. If things pick up (may have to wait quite a while for that to happen) then a re-rating should be on the cards. In the meantime there is always the chance that they will be taken over.
Regards

[c1d] 04/12/2012 16:17

markt,
Headline EPS is after tax. CRE benefitted from a large tax credit due to the favourable settlement of an old outstanding tax issue with HMRC - Hence the increase in headline EPS
I think they could have done a better job in explaining this in the results as it looked odd to me too until I dug into it. Many investors might have just moved on without further investigation after seeing such a strange apparent discrepancy. Shame for holders like me if they did.
Regards

[markt] 04/12/2012 16:11

Headline(1) EBITDA(2) of GBP5.4 million (H1 2012: GBP5.5 million)
-- Headline PBT(3) of GBP4.4 million (H1 2012: GBP4.8 million)
-- Headline DEPS(4) up 32 per cent to 7.44 pence (H1 2012: 5.63 pence) per share

----

Anyone know how come the headline PBT is down
but
the headline EPS is UP ! uh ??

(I guess some one off figure has crept back into the equation.....hmmmmmm)
---

spent 4M on acquistion plus deferred payments....and should have produced turnover increase of at least 3M !

but overall turnover is flat !
ouch !

because of the 6% like like fall for the overall company
..yes, 6% fall roughly equates to the turnover increase that was expected due to Corkery acquisition.

[markt] 04/12/2012 16:07

anyone decoded the results and got any solid comments ?

----

the -ve 6% like for like is not very good....

but the digital section has done well
and now that CRE is international ....that's a plus imo
and divi increase is a +

graph is not looking too good

----

CRE spent a lot of money on acquisitons over last 2 years....
but
as far as I can see...the headline EPS seems to be the same !...well wrt prior year anyway
... a -ve sign imo

---

like for like at interim stage
downward trend
8.5, 3.5, -6 !

[markt] 04/12/2012 16:04

...each to their own

(on moral grounds AIM should have been closed down long ago !...but it aint gonna happen)

[courant] 04/12/2012 15:59

markt,

I was quite aware of the ethical issues around pharma before reading the book (two close relatives have life-long careers in pharmaceutical firms; a number of close friends work in medical R&D) and I too had taken the view that, yes, there are some ethical nasties in there but their activities are fundamentally essential, as is the profit motive (which I didn't have an issue with, and was happy to share myself!).

However, this is on another level - I've come to the conclusion that what's been going on is essentially fraudulent and I'm not sure I want a part of that at all; more broadly, the pollution of the scientific evidence base - and the propagation of this via pr/marketing firms - affects us all in a profound way, because we don't chose how/when we get sick, and if drugs companies are distorting the evidence (e.g. around side-effects and efficacy) and influencing doctors, then you're screwed. The marketing activities surrounding this are particularly distasteful (e.g. promotion of an ineffective/untested drug at the expense of the possibility of being prescribed an effective/safe drug - that's morally deeply messed up!).

It's ultimately a regulatory issue too, I accept that. But, even so, I think a moral line has been crossed - if I can't stand up and justify the actions of a company that I'm part owner of, then I can't justify my investment in it.

Regards,

Courant

[markt] 04/12/2012 15:35

anyone decoded the results and got any solid comments ?

[markt] 04/12/2012 15:35

...I havent read the book...but imo the pharma industry has always had a dubious reputation....but always will imo.....

there will always be moral questions about the supply or not of expensive drugs to the 3rd world...etc etc

but the world needs pharma companies imo....and needs their research labs. to come up with new better drugs..for Alztheimer, Parkinsons, SIDA etc etc
..and need to make a profit on their sales of successful drugs in order to fund research.....

marketing will always be part of the process.

---
If we analysed marketing/advertising on strictly moral grounds.....you could end up banning ads. for alcohol, foods containing fat, etc etc

such banning wouldnt fit in with the liberties in the western world imo

[gretel1921] 29/11/2012 09:55

I am buying!!

[gswredland] 29/11/2012 06:05

Heading back to the low 60's?

[qs9] 28/11/2012 19:13

CRE Too risky on downside IMO....better momentum and switch to equity value IMO at hgv and tmmg where at least directors have piled in! Smaller and not without risk I agree, but for plays in this sector there are few to be in....IMO!